OTP bank retail news

The consolidated accounting profit was HUF 53 billion (+54% y-o-y). In line with the management’s guidance only one material adjustment items appeared in 1Q 2017, namely the banking tax in the amount of HUF 14.7 billion). This amount includes the full-year Hungarian levy booked already in 1Q in a lump-sum, as well as the quarterly part of the Slovakian banking tax. In 1Q 2017 OTP Group posted HUF 66.8 billion adjusted after-tax profit (+136% q-o-q and +40% y-o-y). Key components of the improvement: on one hand the significant decline in risk costs and the effective tax rate moderated, too,...

Starting with this week, OTP banka and Splitska banka have enabled their clients, physical persons, the use of ATMs in both networks without fees. Banks jointly have a strong network of over 520 ATMs across Croatia. Splitska and OTP banka clients can withdraw cash using their debit cards on all ATMs in both banks' network. Cash withdrawal without fees pertains to debit cards of physical persons – clients of both banks. In case of other cards, fees for the use of other bank's ATM will be the same as stipulated by their bank. After the closed transaction by which OTP banka took over Splitska...

OTP banka Hrvatska announced the completion of the transaction for the purchase of 100 percent of Splitska banka.  The merger will create fourth largest bank in Croatia, comprising to 11 percent of the market share. At today's press conference held in Split, high representatives of OTP Bank Nyrt., OTP banka Hrvatska and Splitska banka stated that the transaction for the purchase of Splitska banka was performed earlier this week. Previously, OTP banka acquired all necessary approvals for the transaction by the authorized regulatory bodies: Croatian National Bank, Croatian Financial...

Within its “Green Light for Knowledge” program, OTP banka awards scholarships to students of poor economic background again this year. The bank allocated more than HRK 4 million in the last seven years within this program. In the academic year 2016/2017, OTP banka allocated HRK 500,000 for 77 scholarships of pupils and students of poorer economic background from Zadar, Sisak, Čakovec and Benkovac, Župa Dubrovačka and Nuštar Municipalities and the University of Zadar. Scholarships are presented after public tenders have been conducted, while criteria were material and social position, as well...

The banking group has still strong liquidity and capital position, with defining Hungarian and Bulgarian performance. The consolidated accounting profit was HUF 202.5 billion in 2016 versus HUF 63.2 billion posted in 2015. Against the last couple of years this time adjustment items had a limited impact on the annual accounting profit. In 2016 OTP Group posted HUF 201.2 billion adjusted after tax profit (+67% y-o-y). The tax burden increased by almost HUF 18 billion y-o-y, but the effective tax rate remained almost unchanged (17.8%). The operating income eroded by 7%, however it was...

OTP banka introduced the most innovative loyalty program on the market - OTPetica, multi-functional application which allows users to collect points and win prizes, along with getting educated about banking products and services. After a year of preparations, following development of digital trends, OTPetica loyalty program was presented as a part of ongoing bank's investments in individualization of products and services. Application is free of charge for OTP clients and it can be easily accessed through its online channels - eLEMENT@ internet or mobile banking. It is designed in a way that...

OTP Bank Plc. announces that OTP banka Hrvatska, the Croatian subsidiary of OTP Bank signed an acquisition agreement on purchasing 100% shareholding of Splitska Banka, member of Société Générale Group. Societe Generale Splitska is the 5th biggest player on the Croatian banking market and as a universal bank it has been active in the retail and corporate segment as well. As a result of the acquisition the market share of OTP Group will rise to approximately 10%. OTP Bank has been present in Croatia since 2005 and its operation has been continuously profitable even during the economic crisis...

The banking group results exceed analysts’ expectations. Similar to previous periods OTP Group maintained a strong and safe liquidity position, with significant profit improvement. The consolidated accounting profit was HUF 71.9 billion in 2Q, more than double reached in the previous quarter as a result the half year accounting profit increased to HUF 106.2 billion (+165% y-o-y). In 1H 2016 OTP Group posted HUF 104.1 billion adjusted after tax profit which is materially higher than the net earnings realized in the base period (HUF 69 billion). The y-o-y 51% increase is almost entirely...

OTP banka is the first bank in Croatia using its own energy sources. Construction of three solar power plants in three sunny cities – Dubrovnik, Zadar and Pula – will secure part of electricity necessary for the functioning of bank's buildings. OTP banka recently put the new solar power plant on its building in Zadar into operation; photovoltaic system of 21 kWp was realized through co-financing contract within the Environmental Protection and Energy Efficiency Fund project subsidizing use of renewable energy sources. Total value of the project amounts to HRK 313,000, out of which the Fund...

The banking group still has strong liquidity and capital position, with significant profit improvement. The consolidated accounting profit was HUF 34.3 billion in 1Q. As the management flagged earlier there was only one larger adjustment item: the HUF 13.4 billion banking tax (after tax). The amount incorporates the whole annual Hungarian banking levy recognized by the Hungarian group members in 1Q, as well as the prorated Slovakian banking tax. The consolidated accounting profit was HUF 34.3 billion in 1Q. As the management flagged earlier there was only one larger adjustment item: the HUF...